Sintx Technologies (NASDAQ:SINT) Releases Quarterly Earnings Results, Misses Expectations By $2.91 EPS

Sintx Technologies (NASDAQ:SINT) released its earnings results on Wednesday. The company reported ($3.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.91), FiscalAI reports. The company had revenue of $0.21 million for the quarter. Sintx Technologies had a negative net margin of 674.05% and a negative return on equity of 256.59%.

Sintx Technologies Trading Down 6.5%

Shares of SINT traded down $0.24 during trading hours on Wednesday, reaching $3.43. 115,645 shares of the stock traded hands, compared to its average volume of 696,419. Sintx Technologies has a 52 week low of $1.71 and a 52 week high of $8.60. The company has a market cap of $12.64 million, a price-to-earnings ratio of -0.37 and a beta of 0.82. The stock has a fifty day simple moving average of $4.06 and a 200 day simple moving average of $3.39.

Insider Activity at Sintx Technologies

In other Sintx Technologies news, CIO Gregg R. Honigblum bought 50,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were purchased at an average price of $3.70 per share, for a total transaction of $185,000.00. Following the purchase, the executive directly owned 64,000 shares of the company’s stock, valued at approximately $236,800. This represents a 357.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric K. Olson bought 10,475 shares of Sintx Technologies stock in a transaction dated Friday, August 22nd. The stock was acquired at an average cost of $3.58 per share, with a total value of $37,500.50. Following the completion of the acquisition, the chief executive officer owned 24,975 shares of the company’s stock, valued at $89,410.50. This represents a 72.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 79,275 shares of company stock worth $284,891. Insiders own 4.08% of the company’s stock.

Hedge Funds Weigh In On Sintx Technologies

A hedge fund recently raised its stake in Sintx Technologies stock. Geode Capital Management LLC increased its stake in shares of Sintx Technologies, Inc. (NASDAQ:SINT) by 33.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,339 shares of the company’s stock after buying an additional 3,848 shares during the period. Geode Capital Management LLC owned about 0.56% of Sintx Technologies worth $49,000 as of its most recent SEC filing. 18.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SINT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sintx Technologies in a research note on Wednesday, October 8th. Wall Street Zen lowered Sintx Technologies from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Ascendiant Capital Markets cut their target price on Sintx Technologies from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.00.

Sintx Technologies Company Profile

Sintx Technologies, Inc, an advanced ceramics company, engages in the research, development, and commercialization of medical devices manufactured with silicon nitride for biomedical, technical, and antipathogenic applications in the United States. It provides solid and porous silicon nitride; silicon nitrite powder; and silicon nitride coating products, as well as silicon nitride composite materials, polyetheretherketone, and polyetherketoneketone.